2-3-4-5-6-7 cept Check 1. What is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00
Added by Carolyn T.
Close
Step 1
Annual interest = Principal x Rate Annual interest = $100 x 0.04 Annual interest = $4.00 Show more…
Show all steps
Your feedback will help us improve your experience
Ashley Volpe and 85 other Algebra educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Solve each problem. For a given interest rate, simple interest varies jointly as principal and time. If $\$ 2000$ left in account for 4 yr earned interest of $\$ 280,$ how much interest would be earned in 6 yr?
Graphs, Linear Equations, and Functions
Variation
1. How much money will be in the account after 5 years if $2030 is deposited at 4% compounded continuously? 2. Determine the amount of interest earned in 5 years if $2030 is deposited at 4% compounded continuously? 3. Inflation is running at 0.8% per month when you deposit $3000 in an account earning 6%compounded continuously. In constant dollars, how much will you have 2 years from now? 4. Find the present value of $12,075 if money was invested at 7.2% compounded continuously for 8 years, 9 months.
Sri K.
Recommended Textbooks
Elementary and Intermediate Algebra
Algebra and Trigonometry
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD